Selection of the most desirable combination of factors to meet a specified objective.
Source: IADC UBO / MPD Glossary, December 2011. Global Standards
Application of OMS processes to improve activities as an enabler of higher output or efficiency versus input.
While an OMS is primarily considered as a framework to manage risk, an objective of OMS is also to improve the benefits for stakeholders, including the commercial success of the company.
Source: IOGP Report No. 510, Operating Management System Framework for controlling risk and delivering high performance in the oil and gas industry, International Association of Oil & Gas Producers, June 2014. Global Standards